MARKET REPORT: Drum Trust shopping spree leads the rise in property firms with Miners making up many of the day's fallers

While there has been much concern about property funds and trusts being forced into a fire-sale of their buildings of late, some have been quietly shopping.

Drum Income Plus Real Estate investment trust yesterday announced the purchase of 3 Lochside Way – 24,000 square feet of office space on a business park in Edinburgh – for £4.5million.

With key tenants already in place, Drum said the property should yield 8.5 per cent. Drum has now completed £45.7million of acquisitions since it listed in May last year, and says a £2.6million deal is currently awaiting shareholder approval.

Chairman John Evans said the company is looking to find properties in strong regional locations with the chance to increase in value. Shares closed flat at 104p.

Shopping: Drum Income Plus Real Estate has now completed £45.7m of acquisitions since it listed in May last year, and says a £2.6m deal is currently awaiting shareholder approval

Assura is a property investor and developer in primary care buildings. In the first three months of the year it acquired some 30 medical centres for a total of £65.4million.

Further purchases totalling £105million are under way.

The firm owns 351 medical centres and has an annual rent roll of £68.4million from these. However, it also has loans of almost £412million.

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Assura said there had been no impact yet from the EU referendum result with the NHS continuing to prioritise the need for investment in primary care premises and to provide for a growing, ageing population. Shares ticked up 0.3 per cent, or 0.15p to 57.15p.

On the FTSE 100 (up just 0.03 per cent, or 1.95 points to 6697.37) property company Land Securities was among the highest risers, climbing 3.1 per cent, or 32p to 1074p.

Shaftesbury, which owns a real estate portfolio in London, gained 3 per cent, or 26p to 891.5p.

Miners made up many of the fallers for the day. Rio Tinto slipped on production figures. An increase in iron ore output should have been good news but it’s got investors worried that an excess of supply could drag the price back and hurt future earnings. Shares slid 3.5 per cent, or 85.5p to 2377p.

STOCK WATCH - DP POLAND

DP Poland has the exclusive right to operate Domino’s Pizza stores in Poland.

Five stores have been opened in the first half of the year, including in two new cities, putting the total number of outlets in the country at 28 – some 11 of those are sub-franchised.

Yesterday the firm reported that like-for-like sales were up 28 per cent over the six months to June 30.

Some 69 per cent of delivery sales now come from online orders.

Shares rose 12.1 per cent, or 4.9p to 45.25p.

The news dragged Glencore shares 3.5 per cent, or 6.5p lower to 179.9p, while BHP Billiton lost 2.9 per cent, or 28.3p to 948.5p.

Antofagasta (2.5 per cent, or 12.8p lower at 490.2p) and Anglo American (down 2.2 per cent, or 18.4p to 813.6p) were also in the red for the day.

Bottling business Coca-Cola Hellenic got a boost from a positive rating from JP Morgan. The broker raised its target price for the stock by 300p to 1800p. Shares climbed 3.1p, or 47p to 1568p making it one of the highest risers of the day.

SSP Group, which operates food and drink concessions in train and service stations, climbed as it reported underlying sales were up 3 per cent in the third quarter of the year.

Despite weaker trading in France and Belgium amid terror fears and lower passenger numbers in Egypt and China, the firm said overall trading had been in line with expectations.

Over the past nine months sales have increased 5.5 per cent. Shares gained 1.6 per cent, or 4.8p to 300p.

BCA Marketplace climbed higher on news it had acquired auto services group Paragon Automotive. BCA, a used vehicle marketplace, has bought Paragon, which has more than 1,250 staff, for £105million.

It says the move is part of its strategy to provide a one-stop shop for the handling of vehicles throughout their life cycle.

Paragon is involved with vehicle services for manufacturers and fleet operators. That means storing and processing new vehicles at their point of entry to the UK and providing refurbishment services to the used market. BCA shares accelerated 2.1 per cent, or 3.5p to 171.5p.